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Indian Storytelling App Pratilipi becomes Cashflow Positive
Twitter
ยท
1y ago
Medial
Ranjeet Pratap Singh announced on Twitter that Pratilipi is now Free Cash Flow positive, both operating and overall, effectively giving them an infinite runway. The tweet received widespread congratulations from the community, including notable figures like Gaurav Munjal and Vinay Singhal, celebrating the success and expressing their support and admiration for the Pratilipi team.
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Jungle Ventures leads Series E funding in Pratilipi as Chinese VCs exit
VCCircle
ยท
4m ago
Medial
Jungle Ventures led a $20 million Series E funding round in Pratilipi, a digital storytelling platform, marking the exit of Chinese investors Shunwei Capital and Qiming Venture Partners. The funding includes $12 million in primary investment and $8 million in secondary transactions. Pratilipi aims to expand into new storytelling formats and international markets, with its core online literature business now profitable. The company plans an IPO in 2026-27 and continues to see growth in tier-2 and tier-3 cities.
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Grapevine: Edelweiss Altsโ Sekura buys 350 MW project; Pratilipi eyes IPO
VCCircle
ยท
10m ago
Medial
Sekura Energy, a subsidiary of Edelweiss Alternatives, has acquired 350 MW of operational assets from O2 Power in Madhya Pradesh. The assets were purchased for Rs 2,000 crore and were developed for the Rewa Ultra Mega Solar project. In other news, Pratilipi, an Indian storytelling platform, is reportedly considering an initial public offering (IPO). However, no further details were provided in the report.
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Digital storytelling startup Pratilipi raises $20 million; valuation slashed more than 60%
Economic Times
ยท
4m ago
Medial
Pratilipi, a digital storytelling platform, has raised $20 million led by Jungle Ventures, but its valuation dropped to $100 million from a previous $265 million. The decision followed a challenging period during which Pratilipi achieved cash flow positivity. The funds will aid Pratilipi's expansion into new formats like animation and geographies like the US. The CEO attributed the lowered valuation to market conditions, not business performance, and plans for an IPO in the future.
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Disney Star, Pratilipi partner for content deal
Livemint
ยท
1y ago
Medial
Pratilipi, an online self-publishing and audiobook platform, has partnered with Disney Star to adapt its stories into televised series. Pratilipi offers over 10 million stories in various formats, including short stories, series, audiobooks, and comics. This collaboration marks the first time that a TV series will be developed from an online self-publishing and audiobook platform. Disney+ Hotstar and HSM Entertainment Network believe this partnership will empower writers and bring authentic storytelling to a wider audience.
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Pratilipi closing in on Rs 30-crore funding round as KPMG flags runway problem in audit report
Money Control
ยท
1y ago
Medial
Pratilipi, a vernacular content startup, is nearing the completion of a funding round worth approximately Rs 30 crore. The company is expected to achieve positive cash flow in the first quarter of FY25. This comes after its auditor, KPMG, expressed concerns about the company's financial runway in its annual financial report. Pratilipi has raised over $80 million in funding from investors such as Tencent, Nexus Venture Partners, and Omidyar Network.
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Rainmatter Capital's Experiment in India
StartupTalky
ยท
1y ago
Medial
Rainmatter Capital, founded by Zerodha in 2016, is a unique venture capital firm in the Indian startup ecosystem. They take a non-traditional approach by focusing on "patient capital," supporting startups for the long term rather than seeking quick exits. Rainmatter specializes in investing in fintech, health, and storytelling sectors. They collaborate with founders, provide funding and mentorship, and offer access to financial APIs and industry networks. Their portfolio includes startups like Smallcase, SigTuple, and Pratilipi. Rainmatter's patient capital approach is empowering innovation and fostering a culture of entrepreneurship in India.
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Pratilipi raises $20 Mn in Series E led by Jungle Ventures
Entrackr
ยท
4m ago
Medial
Pratilipi, a digital storytelling platform, has secured $20 million in its Series E funding round, led by Jungle Ventures. The round includes $12 million in primary investment and $8 million from secondary share sales. Notably, Qiming Venture Partners partially exited, selling 75-80% of its shares, while Shunwei Capital fully exited. Pratilipi's valuation dropped to $100 million from $265 million previously. The company specializes in text and audio narratives in multiple Indian languages and has raised over $100 million to date. Its revenue grew to Rs 57.8 crore in FY24, with a reduced net loss of Rs 58.13 crore.
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Quora raised $75M from a16z to grow Poe, its AI chat bot platform
TechCrunch
ยท
1y ago
Medial
After 7 years from the last fundraise, Quora has raised %75M from a16z to scale its chatbot Poe. Quora is overall cashflow positive but has raised this round to scale in the creator economy chatbot space through its chatbot Poe. a16z said it is super bullish on the Quora team and potential of Poe.
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Pratilipi approaches Rs 60 Cr revenue mark in FY24, cuts losses by 62%
Entrackr
ยท
8m ago
Medial
Pratilipi demonstrated strong financial performance in the last fiscal year, with the company's revenue spiking nearly 66%. Moreover, the Bengaluru-based storytelling platform reduced its losses by over 62% during the fiscal year ending in March 2024. Pratilipi โs revenue from operations grew to Rs 57.8 crore in FY24 from Rs 35 crore in FY23, its financial statement filed with the RoC shows. Pratilipi is an online storytelling platform which essentially focuses on text and audio storytelling in Indian languages such as Hindi, Gujarati, Bengali, Marathi, and Malayalam across various formats including audiobooks, podcasts, comics, web series and movies. Revenue from content and premium subscription services soared 2X to Rs 34.97 crore in FY24 and accounted for 60.5% of total operating revenue. Brand advertising services grew by 79% to Rs 7.53 crore, while the sale of books went up by 62% to Rs 10.62 crore in the last fiscal year. The company made an additional Rs 70 lakh from interest income which pushed its total revenue to Rs 58.5 crore in FY24. Looking at the expenses, employee benefit expenses, the largest cost segment, dropped by 21% to Rs 46.94 crore in FY24. Advertising expenses saw a steep decline of 62% to Rs 19.36 crore in the last fiscal year . Cloud services and software charges also fell down significantly. Overall, Pratilipiโs total expenses fell by 39% to Rs 116.7 crore in FY24. Due to tight control in expenses, the companyโs net loss decreased by 62% to Rs 58.13 crore in FY24 from Rs 152.6 crore in FY23. Its ROCE and EBITDA margin stood at -81.01% and -89.74%, respectively. On a unit basis, Pratilipi spent Rs 2.02 to earn a rupee in FY24. The company reported Rs 2.3 crore in cash and bank balances and had a current asset of Rs 33.26 crore as of FY24. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised over $80 million to date. Its leading investors include Krafton, Nexus Venture Partners, Omidyar Network, Shunwei Capital and Tencent. Pratilipi's CEO, Ranjeet Pratap Singh, recently said that the company aims to launch an initial public offering (IPO) in January 2026, depending on market conditions. He also mentioned plans to raise $12 million in a pre-IPO funding round, potentially at a lower valuation.
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Affordable subscriptions, wide content selection drive audio series growth
Livemint
ยท
8m ago
Medial
Indian audio entertainment startups Pocket FM, Kuku FM, and Pratilipi FM are experiencing a surge in popularity, particularly in non-metro cities, due to affordable subscription plans and a broad range of fiction and non-fiction content. These platforms are expected to benefit from the emergence of artificial intelligence and the creation of more regional content. The revenue of Pocket FM increased sixfold to over โน1,050 crore in FY24, while Pratilipi FM's audio content segment grew by 300%. The market for audio series in India is projected to grow from 350 million users in 2023 to 540 million users by 2027, presenting significant opportunities for growth.
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